David Solomon, Chairman & & CEO of Goldman Sachs, speaking on Squawk Box at the WEF in Davos, Switzerland onJan 23 rd,2023
Adam Galica|CNBC
Goldman Sachs shares came under pressure Friday after a Wall Street Journal report stated the Federal Reserve is examining the bank’s customer organization.
Shares slipped 2.54% on the news. Goldman is now up simply 0.15% on the year.
Goldman Sachs everyday stock relocation
The regulator is checking out whether Goldman had the ideal safeguards in location to safeguard customers when it increased loaning in its Marcus department, according to the Journal report, which mentions sources acquainted with the matter.
The reserve bank was formerly evaluating Marcus, Bloomberg news reported in September.
“As we told the Wall Street Journal, the Federal Reserve is our primary federal bank regulator and we do not comment on the accuracy or inaccuracy of matters relating to discussions with them,” a business representative informed CNBC.
Just days earlier, Goldman CEO David Solomon confessed that the bank suffered a frustrating quarter in part due to the fact that it took on too much in the customer banking organization.
Last week, the New York- based financial investment bank published its biggest quarterly revenues miss out on in more than a years, revealing falling income and increasing costs.
— CNBC’s Yun Li and Hugh Son contributed reporting.
